As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

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Sunday, 4 July 2010

I listened to Ah Gong's wise words

Many years ago, Ah Gong said that Singapore has too many banks. I listened to him and bought Tat Lee Bank - one of the smallest banks and was affordable to me at that time.

The market listened to Ah Gong and soon Tat Lee Bank was eaten up Keppel Bank. I made some nice profits.

Some years later Ah Gong said four Banks in Singapore was more than enough.

Again I listened to Ah Gong's wise words and bought into Keppel Bank - the smallest bank.

Soon, the market listened to Ah Gong and Keppel Bank was eaten up. I made money again.

Again Ah Gong said four Banks in Singapore is too many. Big Four became Big Three but this time I got the wrong ball and didn't make any money.

Now Ah Gong said Two is enough.

I will listen to Ah Gong's wise words and get ready to buy.

UOB is a family-controlled board so it is harder to eat up and the likely prey by DBS is OCBC.

Will the market listen to Ah Gong's wise words? You bet.

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